secwatch.observer — SEC 8-K summary
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Issuer:     Humacyte, Inc. (HUMA)
CIK:        0001818382
Form:       8-K
Filed at:   2025-12-15T23:59:59+00:00
Accession:  0001104659-25-121214
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Humacyte secures up to $77.5M senior secured loan facility from Avenue; draws $40M initial tranche
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- Loan agreement provides $40M upfront, plus $12.5M delayed draw (Oct 2026-Mar 2027) and $25M discretionary tranche (Jul 2027-Jun 2028).
- Term loan bears interest at greater of 11.50% or WSJ Prime + 4.50%; matures December 1, 2029.
- Lenders may convert up to $2.5M of principal into common stock at 130% of warrant price.
- Warrant issued to Avenue exercisable for up to ~$5M worth of common shares at initial price of $1.28, expiring December 2030.
- Proceeds used for working capital, general corporate purposes, and to repay existing debt under prior revenue interest purchase agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818382/000110465925121214/0001104659-25-121214-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818382/000110465925121214/tm2533185d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-121214

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